FAQ to CrowdFunding

FAQ, for FundMeFundYou  Crowdfunding

 

What Is FundMeFundYou crowdfunding?

FundMeFundYou offers a crowdfuning service for individuals,  new and existing business, groups and organizations to raise money over the Internet.  A person that creates a fund raising site on FundMeFundYou is called a campaign creator. The campaign creator creates a crowdfunding site on FundMeFundYou to raise money for a ‘Project.’  People can contribute to a project by making a financial donation.  People that contribute to a project may receive special rewards and gifts furnished by the campaign creator.

What is crowdFunding?

Crowdfunding is the collective cooperation, attention and trust by people who network and pool their money together, usually via the Internet, in order to support efforts initiated by other people or organizations. (source: Wikipedia). Tens of thousands of people use crowdfunding everyday to raise money because it works. Tens of millions have already been raised. Through the power of social media multiple small contributions can add up to a substantial about. And unlike a bank loan, there is no interest and you don’t have to pay it back.

Why Use us for your Crowdfunding needs?

Because You keep the money you raised. Unlike other platforms, like kickstarter.com, which is based on a all or nothing premise, where as if you don’t reach your funding goal you will earn nothing;  FundMeFundYou gives you the option of keeping all the money that you earned.  However, this option is ONLY available if project Sponsors  can deliver on all their promised rewards, gifts, and perks made during a campaign.   

How can I support a project? 

FundMeFundYou uses PayPal for accepting payments.  You can also make an online donation via your credit or debit card through the PayPal payment service.  Just click on the  “PayPal” button to make a contribution, and look for the link titled “Don’t have a PayPal account?” or pay by credit card on bottom of PayPal’s button. Now click on the “continue” link and you will see more payment options.

Who can create a project? 

Any person, or entity, can start a project. Use it for personal projects, business, or any legal cause.  Ideas include: to start a new business, for a charity or for personal needs such, college, travel, wedding, honeymoon, funeral, and medical expenses. Start a project and use our crowding funding tools to raise money now.

What kind of projects are acceptable on FundMeFundYou?

Our platform is suitable for all type of projects:  Users can fundraise for  Personal needs (wedding, honeymoon, medical expense, legal, personal expenses, etc.); Business needs (startup, or existing business); Social needs (family reunion, block party, social private club, vacation);  and charitable needs.   As long as it is in compliance with all applicable local, domestic, national, and international laws and regulations. However, we will not accept projects and content that violate or Terms of Use Agreement. For example, project and content that contain:  sexually explicit material; impersonates a real person, entity or organization; false, deceptive information; infringes upon trademarks, trade secrets, etc.; pyramid schemes, chain letters, etc.; illegal services or products.  Please review our Terms of Use Agreement for more information on what is and what is not permitted on our site.

Can I manage more than one project at the same time?

Yes.  However, it would be more productive to concentrate on one project at a time. Running more than one project simultaneously could deter potential contributors form making a donation.

Will I still own my company, product or idea?

We don’t take equity or any form of ownership in products or ideas posted on  FundMeFundYou.  You maintain 100% ownership of your venture.

How does it work?

You the creator start by signing up and posting a project.  You use our resources and tools to write and publicize your project to friends,  family and facebook fans by inviting them to visit your FundMeFundMe Crowdfunding page.  Once there,  visitor can see your project and make a financial contribution.

How can I create a campaign that can be successful?

  1. Take the time to review our Crowdfunding 101 guide.   This guide will help you create an effective campaign.  Of course, we cannot guarantee that any project will succeed.  No one can.  However, like any endeavor,  if you want to do something successfully,  first study those who’ve done it right.  We’ve studied countless crowdfunding campaigns—ones that succeeded and also the ones that failed.   Crowdfunding 101 is based on current best practices in planning, implementing, and managing a crowdfunding campaign. We strongly advise that you review it before your launch your crowdfunding campaign.

Ready to submit your project?

If have completed your project and are ready to submit for approval, please visit our Quick Start page.

I need more details on completing my project.

Please visit our Quick Start page for information on how to submit a project. Also, visit our Project Instructions page for very detailed information and instructions on filling out the project submission page.

What does it cost?

FundMeFundYou is free to join and there are no hidden or recurring fee.   You use our services to raise money for your cause.  FundMeFundYou charges an 8% service fee on the money you’ve raised.  PayPal handles all money transfers. PayPal will charge you their standard processing fee.   If a contributor pay by credit card or PayPal, the credit card company and PayPal fees may apply; check with PayPal and credit card processors for current rates.

Is this an Investment?

FundMeFundYou uses the Crowdfunding concept; currently our platform only allows for donations not investments.  All donations proceeds are transferred to the project creator at the end of a project. There is no return for contributors.  The following are not permitted: Revenue sharing, equity; gaming items such as  raffles, lotteries, or sweepstakes.

Is it secure?

Completely secure. FundMeFundYou uses the trustworthy services of PayPal to manage all money transfers.  We don’t save credit card information or even see it; PayPal process all of the transactions on FundMeFundYou. (Link to bookmark fees).

How can I send money to a project?

You don’t have to register with FundYouFundMe to send money.  You can send money using a credit card or your PayPal account.  Your credit card or PayPal account will be charged at the time of your transaction.

Can I change my target amount during the funding time?

Yes.  Just log in and go to the My Crowfunding page.

Can I change my project details?

Yes.  You can edit your project details, such as images, video and text.  You can even add new gifts and edit existing ones (as long as it was not purchased).  However, you cannot change gifts that have already been established or purchased.  The only things that cannot be changed are your username, project ending date, the rewards that have already been purchased by a backer,  and your  funding  goal.

Is there a limit on the amount I can Raise?

You can raise up to $1,000,000 using your FundMeFundYou per project / account

Are there a maximum number of contributors allowed? 

No. You can and should promote your page to as many potential donors as possible.

Can I see the list and details of contributors?

Yes. Go to the PayPal site to view the detailed list of contributors and donations.

What  is the time limit?  

The maximum duration time given for a project is one year. The time limit is set by the Crowdfunding creator when a FundMeFundYou account is first started. After the expiration time, or after one year, people can no longer send you money throught the Crowdfunding Page. However, you can set up another Crowdfunding Page on FundMeFundYou.

I reached my goal, but I still have time left?

Congratulation! Take a bow, you deserve it.  Your Crowdfunding Page will continue to accept contributions until the full time expires and you get to keep ALL contributions you’ve raised.  Remember to thank your supporters for their financial contribution and confidence in you.  Stay in contact with them. Keep them informed of your progress and follow through on your rewards.

My time expired, but I didn’t reach my funding goal.

If  you set a  “Project Goal” and not optionally included a “Minimum” funding requirement that must be achieved (aka tipping point) you will receive ALL the money you’ve raised less processing fees. If you have included a “Minimum” funding requirement and this amount was not reached, your backers will not be charged and you won’t received any funds raised.  At the end of your projects campaign your Crowfunding page stops accepting contributions. If you require more funds you can always start another project. You must set a minimum funding amount if this will allow you to complete your project and more importantly fulfill your rewards and gifts obligations.

How do I receive my money at the end of a successful campaign?

Project creators that set a ‘Project Goal’ amount and not a ‘Minimum Funding Required’ goal will receive all funds raised (less fees) at the end of the campaign.  Project creators that set a ‘Minimum Funding Required’ goal will receive their raised funds (less fees) at the end of the project’s campaign only if the Minimum Funding Required goal was met.  If not met, all backers will be refunded less processing fees.

Can I cancel my account?

As long as you haven’t raised any money you can cancel your account.  However, if you raised any money your account must remain active.  To cancel an account that hasn’t raised any money contact Us with your request. Contact Us.

Why would people want to contribute to my project?

People get involve with crowdfunding project for various reasons;  primarily because they want to contribute to a good cause. The also want  For the most part people genuinely believe that it is better to give than receive.  This is evident by the hundreds of millions that has already been raised over the internet using the crowdfunding platform.

Can I leave FundMeFundYou at any time?

Yes. Login to “My Account”, and choose Delete Account.  However, your expired project will be on our site for a legal reference for all parties, backers, the Company,  and project creators.

Are rewards, gifts, perks required? 

Not really. For personal causes, such as wedding, birthday, funeral, it is not necessary but would be unique and attract more contributions.  However, gifts, rewards and perks— especially for businesses and non-profits project — will make your project more enticing and interesting to potential contributors. For example, branded T-Shirts, product / service discounts, music download or CD (if you’re a recording artist) and special donor’s only events and / offers will aid in your funding efforts.  How to determine the right pledge / contribution amount and rewards? Visit our Crowdfunding 101 manual for information about rewards.

How can I receive my gift?

FundMeFundyou services enables creators to offer gifts and rewards  in exchange for contributions. When a contributor makes a financial donation associated with a specific reward, the creator is obligated to deliver the reward. FundMeFundyou oversees the collection of money on behalf of the project creator from the project backer. Upon confirmation of payment, the Company, on behalf of the project creator, issues a computer generated, printable Invoice to the project backer as proof of payment,  redeemable for the promised gift or reward.    

Who will deliver my gift?

The project creator is responsible for delivering gifts.   Since the majority of the creator’s contributors will be friends, family, and fans, it is reasonable to assume that creator will make good on his / her promise.    This information was clearly explained in our Terms of Use Agreement.  It is the project’s creator sole responsibility to make good on all promises.   A project creator is legally obligated under the Terms of Use Agreement to make a good faith effort to complete their project and follow through on all promises.   If you are having issues collecting on a promised gift please contact the project’s creator and find out about their recourse.  FundMeFundyou cannot be held responsible for any unfulfilled promises made by a project creator.

Can FundMeFundyou issue refunds?

No. Project creators receive the funds (after fees) from backers not FundMeFundYou. All transactions are between backers and creators, as such, only project creators can refund backers.

I’m having some problems completing my project?

If you are experiencing  challenges completing your project, you must keep your backers informed by posting updates on your FundMefundYou site’s update section.  Communicate with them immediately about your problems.   Backer support you because they believe in you, and want your project to succeed.  If you are honest and sincere about the challenges you are facing, your backers will usually be understanding and patient.   You must make every reasonable attempt at fulfilling your promises.  However, if the problems you are experiencing are to difficult to overcome, and you cant deliver on your promised gifts, you will need to find a resolution. For example you will have to either  issue  a full refund, or other mutually agreed upon remedy.

How should I communicate with backers and potential backers?

Be prepared to communicate with people who want to learn more about your project. Answer all questions promptly.  They will contact you directly via email, or check your crowdfunding site regularly for questions and comments made on your ‘community’ section and ‘blog.’ You can answer them individually, or for most common question respond publicly on your crowdfunding site’s updates section or login and create a Project FAQ.

My plan failed to reach my targeted funding goal.

It happens, don’t give up. Thank your supporters and get their feedback. These people are your biggest fans, and their advice will be invaluable.  Perhaps you need to rethink, reevaluate your project and make changes moving forward. Possible areas for change could include: your pitch, project description, idea or product, your rewards, picture and or video. Perhaps you didn’t market / publicize it enough.  These are variables that are easy to change.  If for some reason it is your idea, product / service, you need to consider changing or modifying it.  Egos here will only hinder your success.  Once you’ve determined your shortcomings, start again.

Contact us

Please feel free to contact us with any questions, comments, or concerns regarding our FAQ page. Contact Us.

Ready to submit your project?

If have completed your project and are ready to submit for approval,  please visit our Quick Start page.

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